Intramural and external R&D: Evidence for complementary or substitutability
The aim of this study is to ascertain the impact of two firm innovation strategies – namely, intramural R&D and external R&D, including either contracted R&D and import of technology, upon total factor productivity (TFP). In order to evaluate these effects we consider robust estimates of TFP through a GMM approach where we account for the diverse innovation strategies carried out by firms (intramural only, external only or both). Using data for Spanish manufacturing firms drawn from the Encuesta de Estrategias Empresariales (ESEE), over the period 1991-2014, our results suggest that inhouse R&D and external R&D are complementary strategies only for large fims in high tech sectors. For the rest of firms, both strategies turn out to be substitutive.
|Date of creation:||Jun 2017|
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